The Municipality owns and manages the Municipal Auditorium through the Auditorium Committee. The Governing Body, for the purpose of defraying the cost of the management, maintenance, and improvements on the Municipal Auditorium may each year levy a tax not exceeding the maximum limit prescribed by State law, on the actual valuation of all real estate and personal property within the Municipality that is subject to taxation. The revenue from the said tax shall be known as the Auditorium Fund and shall include all gifts, grants, deed of conveyance, bequests, or other valuable income-producing personal property and real estate from any source for the purpose of endowing the Municipal Auditorium. The Auditorium Fund shall at all times be in the custody of the Municipal Treasurer. The Committee shall have the power to hire and supervise such employees as they may deem necessary and shall pass such rules and regulations for the operation of the Auditorium as may be proper for its efficient management. All actions by the Committee shall be under the supervision and control of the Governing Body and in the event that the Governing Body should fail or neglect to appoint an Auditorium Committee, the Governing Body shall be the Auditorium Committee ex officio. (Ref. 17-953 through 17-955 RS Neb.)